ZestMoney, once valued at $450 million, acquired by DMI Group in fire sale deal
18 January 2024
A month after its official shutdown, BNPL platform ZestMoney was acquired by DMI Group in a major fire sale deal. Buy Now Pay Later startup ZestMoney, a month after its complete shutdown, was acquired by non-banking finance company DMI Finance on January 17, the company said in a press release on Wednesday. The acquisition was done through a fire sale deal. his comes a month after ZestMoney announced that it would be shutting down all its operations on December 8. The firm also announced the layoff of 150 employees from the startup last month due to failing profits and slow growth.
A month after its official shutdown, BNPL platform ZestMoney was acquired by DMI Group in a major fire sale deal. Buy Now Pay Later startup ZestMoney, a month after its complete shutdown, was acquired by non-banking finance company DMI Finance on January 17, the company said in a press release on Wednesday. The acquisition was done through a fire sale deal. his comes a month after ZestMoney announced that it would be shutting down all its operations on December 8. The firm also announced the layoff of 150 employees from the startup last month due to failing profits and slow growth.
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